ASEAN-BAC PREPARING 3 DETAILED STUDIES ON ASEAN IPO PROSPECTUS - NAZIR

GEORGE TOWN, Jan 16 (Bernama) -- The ASEAN Business Advisory Council (ASEAN-BAC) is preparing three in-depth studies to present to ASEAN governments on the ASEAN IPO Prospectus, one of the 12 initiatives unveiled today.

ASEAN-BAC 2025 chairman Tan Sri Nazir Razak said that the council is working with a global management consulting firm, McKinsey & Company, to highlight the critical role of the private markets industry in the economy, which remains underdeveloped in ASEAN. 

“We will recommend measures to accelerate its growth. In addition, Bain & Company, a top management consulting firm, is working with us on the perennial talent mobility issue, where we aim to prioritise the mobility of youths--students and interns. 

“The Centre for Asian Philanthropy is also working with us to study best practices in corporate philanthropy across the region. This will help improve national rules, regulations, and incentives in philanthropy, enabling more corporate funds to be channelled to help those in need and making ASEAN more inclusive,” he said in his speech at the launch of the ASEAN-BAC Chairmanship 2025 here, tonight.

The launch ceremony was officiated by Penang Yang Dipertua Negeri Tun Ahmad Fuzi Abdul Razak, following a flag handover ceremony from ASEAN-BAC Laos. Penang Chief Minister Chow Kon Yeow was also present.

Nazir, who is also the ASEAN-BAC Malaysia chairman, noted that ASEAN-BAC is working with securities regulators on the simple idea of offering the ASEAN IPO Prospectus as an option for companies seeking listings on their home exchanges. This initiative would allow them to raise funds from any investor in markets that recognise the ASEAN IPO Prospectus. 

He noted that this would be a meaningful, albeit small, step toward integrating ASEAN capital markets.

Earlier today, ASEAN-BAC unveiled 12 strategic initiatives, including the ASEAN Business Entity (ABE) framework, ASEAN Private Capital Market Initiatives, ASEAN IPO Prospectus, ASEAN Talent Development and Mobility, ASEAN Common Carbon Framework, Digital Exchange Platform Malaysia, B2B Connect Initiative, ASEAN Identity Initiative, and the ASEAN Corporate Philanthropy Framework, to enhance economic integration, inclusivity, and regional collaboration.

Meanwhile, Nazir, who took the baton from ASEAN-BAC Laos under the leadership of Oudet Souvannavong, also expressed his gratitude to Oudet and his team for their leadership and for a successful 2024 for ASEAN-BAC.

“ASEAN-BAC Malaysia is honoured and excited to become the new chair for ASEAN-BAC. As the principal private sector body interfacing with the ASEAN governments and Secretariat, ASEAN-BAC is a great platform to drive ASEAN economic integration for the benefit of our economy, companies, and people,” he added.

ASEAN-BAC’s overarching theme of “Unifying Markets for Shared Prosperity” aligns with the government’s MADANI framework and the ASEAN theme for 2025, “Inclusivity and Sustainability.”

-- BERNAMA